I am a CPA in Texas with an MBA from the University of Chicago. I have seen a lot and made many mistakes. Hopefully by now I will have learned something from them. Just as importantly, you may learn something from my mistakes. You can e-mail me by clicking on my "View my complete profile".

Thursday, June 3, 2010

Mayor Reconquista's Tactical Retreat

"To get from downtown to the residence of the man who, in 2005, became the first Hispanic elected mayor since 1870, you drive through a sliver of Korea. With 125,000 people packed into 2.7 of the city's 469 square miles, Koreatown is typical of this polyglot city where more than 100 languages are spoken and nothing is typical except recentness: 46 percent of the residents are foreign-born. So when His Honor Antonio Villaraigosa [AV] was invited to appear at a recent rally protesting Arizona's law concerning illegal immigrants, he went. But he stipulated: 'I want American flags.' ... They say [AV] should 'face the fact' that 'between now and 2014 the city will likely declare bankruptcy.' [AV] says this will not happen. But look at what has happened. ... So [AV] must like with the arithmetic of interest-group liberalism. The federal government, he says, can run deficits and print money; the state government (supposedly) must balance the budget but can push burdens down onto cities. There, he says, 'you have 10 cookies in the cookie jar and every interest wants all 10.' The nightmare numbers include the state's unemployment rate (12.6 percent)--it is higher than the nation's (9.9)--and the city's rate (13.5), which is higher than the state's. The city's long-term success depends on its schools, in which many of the children come from homes without fathers", George Will at Newsweek, 17 May 2010, link: http://www.newsweek.com/id/237640.

If LA's future depends on 73%-Hispanic LAUSD, it is bleak. Think about this: AV told his handlers which flags not to bring. Would AV want American flags at a similar rally in say 2020? Remember, AV is a former La Raza member. Hahahahaha. Do you still want to own California muni bonds?